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Manchester City have reportedly decided that they are prepared to pay £35m ($47.50M) in order to secure the signing of Arsenal forward Alexis Sanchez.

With just six months remaining on his current contract, Sanchez is able to discuss terms with foreign clubs but it appears likely that the Chilean international remains keen on moving to the Etihad Stadium.

City were allegedly prepared to wait until the summer to sign Sanchez on a free transfer but according to the Daily Mail, that stance has changed.

Due to an injury to Gabriel Jesus which will keep him out of action until some point in February, Pep Guardiola would like to strengthen his squad with Sergio Aguero acting as his only recognised centre forward.

In the summer, Arsenal were demanding £60m for Sanchez but with the Gunners having lowered their asking price, City appear ready to negotiate a deal before the end of the month.

City currently sit 15 points clear at the top of the Premier League table, while Sanchez has seven goals and three assists to his name in the top flight this season.

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